Ikänik Farms, Inc. (CSE:IKNK) (FSE: DFMA) has filed articles of amendment with the effective date of May 25, 2022, to change its name from Ikänik Farms Inc. to "Pideka Group Inc." The company's new stock symbol on the Canadian Securities Exchange will be "PDKA".
"The Company has transitioned its business to produce raw cannabis flower and derivatives for manufacturing pharmaceutical cannabis products for medical applications from its indoor cultivation facility called "Pideka" in Bogotá, Colombia, and it simply made sense that as part of this process, we change our corporate name to align with the brand equity that "Pideka" has established over the past several years as a leading indoor pharmaceutical supplier of psychoactive cannabis flower" said Borja San De Madrid, CEO.
Filing 2021 Audited Financial Statements
Further to its press release dated April 29, 2022, the company's financial team and auditors are continuing to work diligently to complete the audit of the annual financial statements for the year ended December 31, 2021 of Ikänik Farms, Inc. to enable the Ontario Securities Commission to revoke the Failure‐to‐File Cease -Trade Order issued against the Company on May 9, 2022.
Lancaster Capital Advisory has been engaged to assist with the field work and audit for its operations in Colombia and changes to the Company's corporate accounting processes, consolidation of systems and location. The company intends to file the audited financial statements by no later than July 29, 2022.
The company confirms there has been no material change to the information relating to the company's delay in filing the audited financial statements since its news release on April 29, 2022, that has not been disclosed.
Filing 2022 Q1 Interim Financial Statements
The company is announcing that it will not be in a position to file its 2022 quarterly financial statements, the accompanying management's discussion and analysis for the quarter ending March 31, 2022 by the May 31, 2022 filing deadline due to a combination of internal and external delays and factors associated with the preparation process, including the recent downsizing of the company in California where it maintains its corporate accounting, the departure of the company's controller, and the onboarding and integration of the company's newcontroller into its corporate systems. The company's management are moving expeditiously to complete the quarterly financial filings, which it anticipates being filed prior to June 15, 2022
Executive and Board Changes
Ryan Ciucki has tendered his resignation as CFO and director of the company. The company expects to announce the appointment of a new CFO in the very near future. Danny Gillis has also resigned as a director of the company. Further to the press release dated April 25, 2022, the company expects to complete the appointment of two independent directors to the company's board of Directors in June, 2022.
